Pi Network (PI) price prediction: $0.32 support is strong, can it break through the $0.37 resistance?

This week, the price movement of Pi Network (PI) has attracted significant market attention. Despite a continuous downtrend recently, PI has found strong support at $0.32, with buyers beginning to enter the market, creating opportunities for a short-term rebound. However, the key resistance level at $0.37 remains the biggest test for the bulls to reverse the trend. This article will analyze the short-term opportunities and risks of PI coin in depth, combining technical indicators and market momentum.

The downtrend continues, with $0.32 as the key defense line

(Source: Trading View)

Since August, the PI coin has continuously set new lows, indicating that bearish pressure remains. However, recently, the price has found significant support around $0.32, with buying interest gradually increasing. If this support level is breached, PI may further decline, but as long as it holds above $0.32, there is still a chance for a short-term rebound.

Selling pressure remains heavy, do not lightly speak of a reversal before breaking 0.37 USD

(Source: Trading View)

At the beginning of August, the PI plummeted 20% in a single day due to a surge in selling pressure. Subsequently, sellers became more cautious, and the price slightly rebounded. Trading volume indicates that market sentiment remains bearish; if it cannot effectively break through the resistance level of $0.37, the rebound trend may be difficult to sustain. Investors need to closely follow changes in trading volume and the situation regarding resistance level breakthroughs.

RSI oversold releases rebound signal, short-term may迎修复行情

(Source: Trading View)

From a technical perspective, the PI daily RSI has entered the oversold zone and is beginning to rebound, indicating that the current price has a certain level of attractiveness. This has attracted some buyers to enter at lower prices, driving a short-term rebound. However, if the rebound cannot push the price above the resistance level of $0.37, sellers may return at any time, suppressing the upward space.

Conclusion

Pi Network (PI) has a key support level at 0.32 USD this week, with resistance looking towards 0.37 USD. If it can effectively break through the resistance, a short-term recovery is expected; otherwise, the rebound may just be a dead cat bounce. Investors should closely follow the technical indicators and changes in trading volume, cautiously grasping the trading rhythm and waiting for clear breakout signals before taking action.